Price: AED 5,500

Duration: 2 - 3 Days

Timing: Flexible

Course Overview

Optimizer ME offers Letter of Credit and UCP 600 training with the objective to provide a detailed and practical analysis of Documentary Credits & UCP600 so that participants understand this typical method of payment thoroughly, safe guard their interest against tricky clauses, avoid discrepancy(ies) in preparation of documents and smooth liquidity of their businesses by prompt payments from banks.

Course Outline

Definition & Types of LC’s

  1. Definition –Letter of Credit and UCP 600
    Issuance – amendment – extension – utilization
  2. Types & Risks of letter of credit and UCP 600 – Irrevocable, Confirmed,
  3. Transferable, Revolving, Red Clause, Back to Back
  4. Contents of LC
  5. Why UCP is must for LCs
  6. General provisions of UCP 600

Review of terms & conditions

  1. Terms of LC in light of UCP600 (term vs articles)
  2. Ambiguous terms definition & interpretations
  3. Understanding difference between Payment / Negotiation &
  4. Acceptance /Deferred Payment
  5. Partial Shipments
  6. Minimal requirements for 45A Goods Description

Documentary Requirement

  1. Transport document – Sea / Air / Road / Rail
  2. How to evaluate your transport documents – 11 points theory
  3. Who should issue transport document
  4. Why confirmation of dispatch is a must
  6. Commercial Invoice
  7. Insurance Documents in light of UCP 600
  8. Who can issue insurance
  9. In whose name insurance should be issued
  10. Date of insurance / cover percentage / risks etc.
  11. Other documents as per UCP 600


  1. Importance of Period of Presentation / how to benefit from
  2. Period Of Presentation Presenter, presentation, original doc/copies /signature
  3. Time frame for banks & their obligation


  1. Understanding Discrepancy(ies)
  2. Inconsistency – Discrepant documents – Waiver – Notice – Acceptance
  3. Direct & Indirect costs & impact of discrepancy(ies)
  4. How to deal & control discrepancy(ies)

Complying Presentation

  1. Principles of documentary verification
    Checking documents according to UCP 600 & ISBP
    When banks are precluded from claiming any discrepancy in documents
  2. Open debate on problems faced by participants in documentary credits and their solution
    Answer & question will be throughout the training session

Who is it for:

  1. Professionals of all levels, Junior, Mid and senior Managers, Members of public, Senior students.
  2. Anyone who wishes to be an expert on letter of credit and UCP 600
  3. Bankers and Finance Managers specifically working in in letter of credit and ucp 600 

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